0001517507-11-000001.txt : 20110406 0001517507-11-000001.hdr.sgml : 20110406 20110406193844 ACCESSION NUMBER: 0001517507-11-000001 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110328 FILED AS OF DATE: 20110406 DATE AS OF CHANGE: 20110406 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Seipel Kenneth Duane CENTRAL INDEX KEY: 0001517507 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 000-18632 FILM NUMBER: 11744413 MAIL ADDRESS: STREET 1: 26972 BURBANK CITY: FOOTHILL RANCH STATE: CA ZIP: 92610 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: WET SEAL INC CENTRAL INDEX KEY: 0000863456 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-WOMEN'S CLOTHING STORES [5621] IRS NUMBER: 330415940 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 BUSINESS ADDRESS: STREET 1: 26972 BURBANK CITY: FOOTHILL RANCH STATE: CA ZIP: 92610 BUSINESS PHONE: 7145839029 MAIL ADDRESS: STREET 1: 26972 BURBANK CITY: FOOTHILL RANCH STATE: CA ZIP: 92610 3 1 primary_doc.xml PRIMARY DOCUMENT X0203 3 2011-03-28 0 0000863456 WET SEAL INC WTSLA 0001517507 Seipel Kenneth Duane 26972 BURBANK FOOTHILL RANCH CA 92610 0 1 0 0 President & Chief Oper.Officer Common Stock Class A 250000 D Common Stock Class A 400000 D Non-Qualified Stock Option (righ-to-buy) 4 2018-03-28 Common Stock Class A 400000 D Represents restricted stock granted pursuant to The Wet Seal, Inc. 2005 Stock Incentive Plan (the "Plan"). The restricted stock will vest in two (2) equal installments of 50,000 shares on the first and second anniversary and 150,000 shares on the third anniversary of March 28, 2011. Represents peformance shares granted pursuant to the Plan on April 4, 2011. The performance shares vest as follows: (a) on or following the first anniversary of March 28, 2011 (the "Effective Date"), 133,333 shares will vest if at anytime following the Effective Date through the third anniversary thereof, the volume weighted average price of the Company's common stock for any trailing 30 days (the "30-Day Average") equals or exceeds $4.60 per share; (b) on or following the second anniversary of the Effective Date, 133,333 shares will vest if at anytime following the first anniverary of the Effective Date through the third anniversary thereof, the 30-Day Average equals or exceeds $5.80 per share; and (c) on the third anniversary of the Effective Date, 133,334 shares will vest if at anytime following the second anniversary of the Effective Date through the third anniversary thereof, the 30-Day Average equals or exceeds $7.00 per share. The stock options were granted pursuant to the Plan. The options will become vested and exercisable with respect to (a) 100,000 of the shares on each of the next two (2) anniversaries of the Date of Grant and (b) 200,000 of the shares on the third anniversary until the shares are 100% vested, subject to Executive's Continuous Service (as defined by the Plan) with the Company on each of those vesting dates. By: Steven H. Benrubi For: Kenneth D. Seipel 2011-04-06